FSA gives closed-ended funds freedom to rule

The paper’s general aims are to bring more flexibility into the listings regime to give investment vehicles more leeway in using or adopting different investment styles and strategies, including approaches used by hedge funds, but still retain sufficient transparency to make the regime palatable for investors. Initial thoughts were laid out by the regulator in CP06/4 published earlier this year as part of the general move towards principles-based regulation. As a result of feedback to the earlier paper, the FSA has now amended some of its key proposals. This includes those relating to...